Summary of Proposed Investment
Project Number
7052
Company Name
Antelope Company Ltd.
Date SPI Disclosed
May 31, 1995
Country
Ghana
Industry
Manufacturing
Status
Completed
Sector
Other Agricultural Chemicals (Pesticides, etc.)
Department
Regional Industry - MAS Africa
Environmental Category
B - Limited
Previous Events
Approved : Jun 30, 1995
Signed : Mar 17, 1997
Invested : Feb 23, 2001
Project Description
SUMMARY OF PROJECT INFORMATION
Project Name Ghana-Antelope Company Limited
Region Sub-Saharan Africa
Sector Industry/Manufacturing
Project No 007052
Projected Board Date June 27, 1995
Company Name Antelope Company Limited (ACL)
Technical Partner and/or Major Shareholders
The Company is owned by Messrs. William Hardcastle (50%) and Gordon Gopaldas (50%), two experienced and reputable businessmen. The shareholders will provide about US$0.4 million, which represents a 39% of the total project cost.
Project Cost including proposed IFC investment
US$1.03 million equivalent.
IFC loan: US$633,000
Location of project and Description of site
The Company has acquired a 4.2-acre industrial property on a 50-year leasehold term. The land is provided with water and power connection from the industrial town of Tema.
Description of Company and Purpose of Project
The Company was incorporated in 1992 as an Accra-based trading company, for the import and distribution of pest control products. It imports approximately 60% of Ghana''s mosquito coil requirements. The sponsors aim at promoting and distributing a cost effective malaria preventive method (mosquito repellent) by locally manufacturing good quality and low cost products than those currently imported.
Environmental Category and Issues
This is a category B project according to IFC''s environmental review procedures. Key environmental, health and safety issues that are of potential concern in this project include: chemical and insecticide handling, solid and liquid waste disposal, workplace air quality, spill prevention and general plant safety. The sponsor has been requested to submit an environmental, health and safety management plan addressing the issues listed above.
The Environmental Review Summary is expected to be available on June 30, 1995 at the Public Information Center.
Date SPI sent to PIC May 31, 1995
For additional Information contact: Corporate Relations Unit
telephone: (202) 473-7711
facsimile: (202) 676-0365
Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Sponsor / Cost / Location
Related ESRS/ERS
